The Federal Reserve’s recent decision to cut interest rates by 0.5% “is a campaign contribution to [former President] Donald Trump,” economist Peter Morici of the University of Maryland’s Robert H. Smith School of Business told Newsmax on Tuesday.
Morici told “Wake Up America” that the Federal Reserve’s board members are “debating how far they can take rates and how quickly” after the Fed announced its first rate reduction since March 2020 last week.
He noted that “the liberals on the Fed board … are cautioning us that the bottom is going to fall out of the jobs market,” adding, “If that’s the case, I think you ought to go hug Donald Trump and endorse him.”
Read more at Newsmax© 2024 Newsmax. All rights reserved.
